Sunday, December 29, 2019

Legal pot in Canada not the cat's ass

Even the armchair rocket scientists have figured out legal pot isn't turning out to be the unmitigated money spinner they dreamed about. The reality has turned out to be far removed from the fantasy. The bottom line is that pot is a commodity exactly like any other and ignoring that fact is a prescription for disaster.

The troubles started early with not enough supply to meet demand. That meant long lines and delayed orders. Consumers were quickly turned off. Then the lack of supply became a glut, and there's no sign of that slowing down.
Legal pot is more expensive than black market and often of lower quality. Studies show legal pot is around $10.75 per gram while black market is $5.98. 75% of Canadian pot users rely on black market and the reasons are obvious. They receive a better, cheaper product and it is readily available.
Despite the sweet nothings of those buried in legal pot the fundamentals continue to look grim. Until the too brilliant capitalists find a way to compete nobody will buy their product. More will always be preferred to less, a concept that is apparently incomprehensible to some.

Sunday, December 22, 2019

Judge blocks attempt to dismiss Keystone XL lawsuit

A U.S. judge rejected motions filed by Calgary-based TC Energy and the Trump administration to dismiss a lawsuit which aims to block the approval of the Keystone XL pipeline. the Obama administration rejected the project in 2015, but Trump reversed that decision in March 2017. A 2018 ruling by Morris found the project's environmental impact statement fell short of regulatory standards, so in 2019 Trump reissued a presidential permit in a bid to circumvent that court ruling. In the latest ruling, the request for a preliminary injunction was denied.

The 1,897-km pipeline would carry 830k barrels of crude a day from Hardisty, Alberta to Nebraska. Keystone recently reopened after 9,120 barrels of oil were spilled in North Dakota.

Friday, December 13, 2019

SEC complaint against Northern Dynasty Minerals Ltd. - NDM.t - update

Robert DickinsonThe HDI group is an amazing thing to behold. This cowboy has followed the horrid K9s for years. The latest for NDM.t pretty much sums it up as far as dopey public idiots holding HDI paper for appreciation potential goes.

 "Northern Dynasty Minerals Ltd. has entered into an underwriting agreement for the sale of 36.5 million common shares at a price of 37 U.S. cents per common share for gross proceeds of $13,505,000 (U.S.). The offering is expected to close on or about Dec. 18, 2019."

An advocacy group has made a complaint to the SEC detailing a flurry of stock trades and suspicious communications related to Northern Dynasty Minerals prior to a favorable ruling. The Pebble project near Bristol Bay, southwest of Anchorage, is controversial. Some 35m wild sockeye salmon spawn every year in those waters, making it one of the world's last untrammeled salmon runs of its kind. Volume spiked 800% in the days and weeks before the announcement on June 26.

Complainants pointed to online posts on a stock tip website during an investor's conference on June 19 that Northern Dynasty CEO Thiessen attended, a week before the EPA announcement. One post stated: "had a half-hour conversation with Ron [Thiessen] this morning" and later stated "if you are thinking about selling, don't."
Ron ThiessenThe posts were removed shortly after CNN began asking questions. Northern Dynasty has denied that its CEO released any inside information. It's said that he did, however, confirm he agreed with what the company called a "widely-held belief" that a decision on the project was imminent.

QuadrigaCX creditors want proof that Gerald Cotten is dead

Lawyers for creditors burnt by QuadrigaCX want the body of Gerald Cotten exhumed for identification. The 30 year old reportedly died of complications due to Crohn’s disease at the end of December 2018 in India. Deaths from Crohn's disease are rare.

Cotten’s death was kept secret for over a month, with the exchange accepting deposits but not allowing some customers to withdraw funds. The QuadrigaCX website was shuttered by his widow Jennifer Robertson, with the company filing for creditor protection. Cotten's widow announced that Cotten was the only one who knew the private keys to the exchange’s cold wallets. It turned out they had been drained, with the holdings transferred anonymously.
Following his death, Cotten was embalmed in a medical school and transported back to Canada, where he was said to have been buried in mid-December. The couple had been living a luxurious, jet setting lifestyle for years, all on funds belonging to others.

Thursday, December 5, 2019

Twitter junk bond frenzy - Record low yields

Banks are marketing $600m of eight-year bonds at a yield of about 3.875%. The inaugural bond has garnered more than $6 billion of investor orders. With almost $6 billion of cash on its balance sheet, a market cap of $23.6 billion and just $2.1 billion of existing debt, the bond market will no doubt welcome the new junk bond with open wallets.

Credit spreads (difference between corporate and benchmark yields) have fallen in line with the drop in government yields. There has rarely been a better time to issue debt.

Sunday, December 1, 2019

Aquarius AI Inc. AQUA.v - GOOD.v rebranded

New main arsehole of Aquarius AI Inc. Chris Bradley, CEO says this is a digital media company that has developed a programmatic marketing platform powered by proprietary machine learning technology that allows advertisers to target and connect intelligently with their audiences across online display, video, social and mobile campaigns. Riiiight sure Dude. The stories about that past are not 'Good' at all. New address appears to be a residential condo.
Unknown precisely how a co with no assets whatever and massive huge debt (all in default) finds a way to trade at all. Soooooooo terrible the public ought not be exposed to it at any price. Put it down to Vancouver garbage one supposes.

HOW on fukkin earth anybody could/would be so stupid as to throw a nickle at this is a mystery for the ages.